Observer Money

Namibia’s newly established Upstream Petroleum Unit (UPU), operating directly under the Presidency, has confirmed its participation at the 8th Namibia International Energy Conference (NIEC), taking place from April 14 to 16 in Windhoek.  As Namibia edges closer to first oil, the Petroleum Unit’s involvement signals the government’s commitment to shaping upstream policy, fostering investment and promoting partnership between regulators and industry. The UPU, led by Kornelia Shilunga, Special Advisory and Head, and Carlo McLeod, Special Advisor and Deputy Head, is responsible for overseeing the country’s upstream petroleum sector. Established within the Presidency, the Unit develops regulatory frameworks, monitors compliance and…

Staff Writer The South African wine industry has gathered for the annual Wine Harvest Commemorative Event to honour excellence, heritage and innovation.  The event also marked the blessing of the 2026 grape harvest and commemorated 367 years since the birth of the country’s wine industry. South Africa remains unique among wine-producing nations because it can trace the exact origin of its wine industry to a diary entry dated 2 February 1659.  The entry reads: “Today, praise be to God, wine was made for the first time from Cape grapes.” Clifford van der Venter, chairperson of the Groot Constantia Trust, said…

Chamwe Kaira The continued occurrence of foot-and-mouth disease (FMD) in Southern Africa is a major concern, the Namibia Agricultural Union (NAU) has said. The union says FMD poses a serious risk to livestock, livelihoods and the wider economy. Namibia’s cattle herd is estimated at about 1.2 million head, with 800 000 south of the veterinary cordon fence and 400 000 north of it. The livestock sector, including sheep and goats, has remained under supply pressure. Marketing volumes have fallen due to a shortage of market-ready animals across key channels.  The situation is worsened by FMD outbreaks in South Africa, Namibia’s…

Chamwe Kaira Namibia’s diamond production fell by 21% to 500 000 carats in the fourth quarter of 2025, mainly due to scheduled maintenance on two vessels and extended in-port time to install a next-generation subsea crawler on the Benguela Gem diamond recovery vessel. The decommissioning of two vessels earlier in the year, a response to current industry conditions, also contributed to the decline. Debmarine Namibia produced 286 000 carats during the quarter, while Namdeb land operations produced 173 000 carats. The figures are contained in the production report for the quarter ended 31 December 2025. Anglo American, which owns De…

Chamwe Kaira TotalEnergies says offshore oil production in Namibia could begin around 2029 or 2030, subject to regulatory approvals and the timing of a final investment decision. The timeline was outlined by Gabin Poizat, press officer for exploration and production at TotalEnergies SE Corporate Communications, who said the start date will depend on how quickly key approvals and project decisions are completed. Poizat told Observer Money that following a transaction announced in December, TotalEnergies will hold operated interests in three offshore petroleum exploration licences in Namibia’s Orange Basin. The company will own a 40% operated interest in PEL 83, which…

Chamwe Kaira Namibia recorded a trade deficit of N$393 million in December 2025, a sharp improvement from the N$4.4 billion deficit recorded in November 2025. On a year-on-year basis, the country posted a trade surplus of N$297 million, according to data released by the statistician general and chief executive officer of the Namibia Statistics Agency (NSA), Alex Shimuafeni. South Africa remained Namibia’s largest trading partner during the period, accounting for the largest share of both exports and imports. Exports in December were driven mainly by the mining sector. Non-monetary gold, precious stones (diamonds) and uranium dominated the export basket.  Fish…

Chamwe Kaira The Government Institutions Pension Fund (GIPF) recorded growth in assets from about N$167 billion as of 31 March 2024 to around N$183 billion by 31 March 2025. GIPF maintained a balanced portfolio across local and international markets, allowing it to access global opportunities while managing risk. GIPF officially launched its 2025 integrated annual report on Thursday in Oshakati.  Speaking at the launch, GIPF chief executive officer and principal officer Martin Inkumbi said the report provides a full account of the Fund’s financial and operational performance for the year ended 31 March 2025. Inkumbi said the 2025 financial results…

Staff Writer Namibia’s residential property market showed mixed results in the final quarter of 2025, according to the latest FNB House Price Index report.  House price growth remained modest due to weak economic conditions, strained household finances and uneven activity across regions. The FNB House Price Index rose to 7.6% in the fourth quarter of 2025 from 5.9% in the previous quarter. Over the same period, growth in transaction volumes eased to 17% from 18.4%. “This reflects an uneven market, with strong price growth observed in the central and coastal regions, while the northern region continues to lead in transaction…

Staff Writer Letshego Holdings Namibia Limited has appointed Christoffer Chipeio as an independent non-executive director, effective 4 February 2026. The company said the appointment was made in line with Rule 3.59 of the Namibia Securities Exchange (NSX) listing requirements. Chipeio is a Namibian legal practitioner with more than ten years of experience in compliance, legal advice, corporate governance and regulatory matters. His career includes senior and executive roles in the financial services and corporate sectors, with experience in both banking and legal practice. Letshego Holdings Namibia says Chipeio brings a strong understanding of governance, risk management and regulatory frameworks, which…

Staff Writer Namibia will present a range of investment-ready mining opportunities at the 2026 Investing in African Mining Indaba in Cape Town, the Namibia Investment Promotion and Development Board (NIPDB) announced on Thursday.  The mining sector is supported by a broad resource base that includes uranium, diamonds, lithium, rare earth elements, copper, graphite, cobalt, manganese and zinc.  Mining remains a key contributor to economic growth, jobs and industrial development. As part of its long-term mining and industrialisation strategy, Namibia is promoting both large-scale mining and small-scale and emerging mining.  The approach forms part of an integrated development pipeline aimed at…